The Wonderful Company Launches $1 Million Wonderful Innovation Challenge
Global Contest to Discover Environmentally Friendly Solutions for 50,000 Tons of Pomegranate Husks
LOS ANGELES, Sept. 28, 2020 /PRNewswire/ -- Today The Wonderful Company, a global company dedicated to harvesting health and happiness around the world through its iconic consumer brands, announced the launch of the Wonderful Innovation Challenge. Offering up to $1 million in funding and development resources to innovators, the competition seeks to discover economic and environmentally friendly pilot ready solutions for the 50,000 tons of pomegranate husks generated each year by juicing POM Wonderful pomegranates. ReFED, a national nonprofit working to end food loss and waste across the food system, serves as strategic advisor and managing partner for the challenge.
To create the juice for POM Wonderful, pomegranates are harvested and transported to the processing facility, and conveyed to a mechanical press where they are crushed, leaving behind a husk made up of rind, pith, and seeds. The juice is extracted and sent to be bottled while the husks are discharged.
"The Wonderful Innovation Challenge was born out of our mission to continually push the boundaries of sustainability by embracing bold, innovative ideas," said Steve Swartz, vice president of strategy at The Wonderful Company. "This competition will provide a select group of winners the resources they need to grow their business, make a positive impact, and help us fulfill our environmental mission."
"Innovation can play a critical role in driving efficiency and value, as well as in addressing environmental challenges. The Wonderful Innovation Challenge is a call for inventive solutions that can create value from this byproduct," said Alexandria Coari, Director of Capital & Innovation, ReFED. "We're excited to partner with The Wonderful Company in their search for innovators that will positively impact the triple bottom line of people, planet, and profit."
Registration is now open through December 7th for interested individuals, teams, and business entities. A single-track application process will shepherd applicants through four review stages. In the first round, teams will submit a short application with information about their proposed solution. Qualified applicants will then be invited to submit a full application detailing their approach. In the third round, a group of semifinalists will be invited to participate in a virtual interview. For the fourth and final round, a group of finalists selected from the third round will be invited to pitch their solutions virtually to our panel of judges. Finalists will compete for the $1 million award pool and request the amount they need to develop their pilots.
This challenge is a critical part of the more than $1 billion the company has invested in environmental sustainability and fighting climate change. That includes $400 million in water-efficient irrigation systems, eco-friendly pest control, and creative ways to reduce energy use; $60 million earmarked for future solar projects; and the unprecedented $750 million pledge from company owners Stewart and Lynda Resnick to Caltech in support of the school's environmental sustainability research.
The competition will generate ideas and pilot solutions that can help The Wonderful Company solve issues across the sustainability spectrum. For more information about the Wonderful Innovation Challenge and to register for the competition, visit www.wonderfulinnovation.com.
About The Wonderful Company:
Headquartered in Los Angeles, The Wonderful Company is a privately held $5 billion global company dedicated to harvesting health and happiness around the world through its iconic consumer brands. The company's 10,000 employees worldwide are committed to bringing consumers everywhere the freshest, most wholesome pistachios, citrus and pomegranates; bottling the finest water and wines; and creating colorful bouquets that are sure to touch the heart. This commitment is reflected in the company's market share: Wonderful Pistachios® is America's No. 1 tree nut brand and America's fastest-growing snack; Wonderful® Halos® is the No. 1 mandarin orange in America; POM Wonderful® is the No. 1 100% pomegranate brand in America; FIJI® Water is America's No. 1 premium imported bottled water brand; JUSTIN® Wine has the No. 1 Cabernet Sauvignon in California; and Teleflora® is the world's leading floral delivery service.
The Wonderful Company's connection to consumers has health at its heart and giving back in its DNA. The company has a longstanding commitment to corporate social responsibility, including more than $1 billion invested in environmental sustainability, $50 million in charitable giving and education initiatives every year, $125 million toward the construction of two charter school campuses in California's Central Valley, and innovative health and wellness programs, including two free primary care clinics for employees and their dependents.
To learn more about The Wonderful Company, its products, and its core values, visit www.wonderful.com, or follow us on Facebook, Twitter and Instagram. To view the current Corporate Social Responsibility report, visit www.wonderful.com/csr.
About ReFED:
ReFED is a national nonprofit working to end food loss and waste across the food system by advancing data-driven solutions to the problem. ReFED leverages data and insights to highlight supply chain inefficiencies and economic opportunities; mobilizes and connects people to take targeted action; and catalyzes capital to spur innovation and scale high-impact initiatives. ReFED's goal is a sustainable, resilient, and inclusive food system that optimizes environmental resources, minimizes climate impacts, and makes the best use of the food we grow. For more information, visit www.refed.com.
SOURCE The Wonderful Company LLC
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